Spotify lost $59m in 2011

"Spotify co-founder and CEO Daniel EK says that 2012 revenues will top $889 million USD as the music streamer expands quickly into more territories.  Ek also confirmed figures provided by Swedish business daily Dagens Industri that Spotify sales grew 160% to $236.4 million USD last year and accumulated a net loss of $59.4 million or 25% of total revenue.
Spotify has more than 10 million active users and 3 million paying subscribers, but expects to continue to loose more money this year. "Our focus is all on growth," according to Ek. "That is priority one, two, three, four and five. But of course we expect to make a profit in the long run," he was quoted as saying."

Source:  Hypebot, 13th April 2012